Manhattan, NY Over 200 brokers attended RFR Realty’s “Sunset Cocktail Party,” which was held on November 29th in the Penthouse at 17 State St., a 42-story boutique office tower. The catered event featured signature drinks and passed hors d’oeuvres.
There has been a tremendous uptick in recent leasing activity. Global advisory firm StoneTurn Group LLP relocated and expanded to a 13,100-square-foot, full-floor space. The tenant, which has been in the building since 2014, doubled in size from 7,234 s/f. In addition, existing tenant DDCD & Partners Inc., a strategic advertising agency that has been located at 17 State since 2011, relocated on a long-term basis to a tower floor unit.
RFR’s director of leasing AJ Camhi and vice president of leasing Ryan Silverman, along with JLL’s Mitchell Konsker, John Wheeler and Clayton Kline represented the ownership.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,